SOPHIA ANTIPOLIS, France, Oct. 2 /PRNewswire-FirstCall/ -- NicOx S.A.
(Eurolist: COX) today announced the presentation of promising clinical and
preclinical results from its collaboration with Ferrer Grupo International
at the 21st World Congress of Dermatology, in Buenos Aires, Argentina.
These included phase 1 results for NCX 1022, a prototype compound, showing
the potential for improved safety and tolerability and preclinical results
for a novel, high potency, nitric oxide-donating anti-inflammatory
suggesting it could have enhanced anti-inflammatory activity over current
dermatology products.

Ennio Ongini, Vice President of Research at NicOx, declared: "We are
delighted to present these very promising results with Ferrer at this
prestigious scientific meeting. These results highlight the potential of
our technology in dermatology and suggest our joint program with Ferrer has
the potential to provide more effective drugs to treat chronic skin
disorders, which represent an increasing burden on medical services.
Furthermore, the clinical data on NCX 1022 suggest that nitric oxide
donation may also improve the safety margin over current treatments. We
will continue to work closely with Ferrer to bring our promising drug
candidate into clinical trials."

NicOx and Ferrer initiated their development program focused on high
potency, nitric oxide-donating anti-inflammatory agents, for the treatment
of a range of skin disorders (see NOTE), following encouraging results from
a phase 1 study for NCX 1022, a lower potency prototype (see top-line
results in press release of April 29, 2004). This presentation at the World
Congress of Dermatology was the first time these results were presented at
a scientific meeting. The results showed that the application of NCX 1022
ointment did not induce skin blanching with there being statistically
significantly less skin blanching with NCX 1022 compared with three
commonly used marketed products (p<0.001).

In parallel, NicOx and Ferrer jointly presented a series of preclinical
results from a novel, high potency, nitric oxide-donating anti-inflammatory
compound at the congress, which showed a broader anti-inflammatory activity
than commonly used treatments for skin disorders. These results were
obtained in a validated preclinical model of skin disorders by following
selected biological markers involved in inflammatory pathways (namely
pro-inflammatory mediators such as PGE2, cytokines and TNF-alpha).
Scientists have proposed a role for nitric oxide in a number of biological
processes in the skin.

Antonio Guglietta, Head of Research and Development at Ferrer,
commented: "Nitric oxide is thought to play an important role in the
physiology of the skin and these new preclinical results suggest nitric
oxide-donating anti- inflammatory agents could have improved efficacy over
existing treatments. We believe this collaboration with NicOx can lead to
the successful development of a more effective and safer treatment for skin
disorders."

NOTE: NicOx and Ferrer aim to develop an improved product to treat a
range of skin disorders, including Atopic Dermatitis, Psoriasis and
Seborrheic Dermatitis, which affect millions of people each year. The
severity of these

conditions can vary widely and in the worst cases they can be painful,
increase the risk of infection and cause social isolation due to
appearance.

NicOx (Bloomberg: COX:FP, Reuters: NCOX.PA) is a product-driven
biopharmaceutical company dedicated to the development of nitric oxide-
donating drugs to meet unmet medical needs. NicOx is targeting the
therapeutic areas of inflammation and cardio-metabolic disease. Resources
are focused on two lead compounds, naproxcinod (formerly HCT 3012); in
phase 3 development for the treatment of signs and symptoms of
osteoarthritis, and NCX 4016, in phase 2 for type 2 diabetes.

NicOx has strategic partnerships with some of the world's leading
pharmaceutical companies, including Pfizer Inc. and Merck & Co., Inc.

NicOx S.A. is headquartered in Sophia-Antipolis, France, and is a
public company listed on the Eurolist of Euronext(TM) Paris (segment: Next
Economy).

The elements included in this communication may contain forward-looking
statements subject to certain risks and uncertainties. Actual results of
the company may differ materially from those indicated in the
forward-looking statements because of different risk factors described in
the company's document de reference.

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